Tuesday, December 29, 2009

According to this front page story by Larry Carson in The Sun today, the assessed value of homes in Howard County dropped by 23.1% since 2006. Across the State of Maryland, assessed values dropped an average of 19.7% “the largest decline in the state assessment office's history.”

This doesn’t mean our property taxes are likely to go down though.

“In Howard County, for example, if a home doubled in value, the owner pays taxes on only 5 percent of that increase yearly. So even this year's 23.1 percent decline in residential value won't produce a tax bill cut.”

2
comments:

Anonymous
said...

Just received our assessment. Bought in 2006 (great for selling our townhome, terrible for buying our SFH) for $435,000. Property assessed by state at $445,900. Now..... $295,000. Shockingly low, but don't think I will be complaining. Houses are selling for considerably more in our neighborhood, so not sure how they determined that figure.

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